SolarEdge Technologies (NASDAQ:SEDG) Earns Sell Rating from Guggenheim

SolarEdge Technologies (NASDAQ:SEDG)‘s stock had its “sell” rating reaffirmed by stock analysts at Guggenheim in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $5.00 price objective on the semiconductor company’s stock. Guggenheim’s target price indicates a potential downside of 57.34% from the stock’s current price.

Other analysts have also issued reports about the company. Piper Sandler lifted their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company cut their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Northland Capmk lowered shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets lowered shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and lifted their price target for the stock from $13.00 to $15.00 in a report on Thursday, February 20th. Twelve analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.92.

SolarEdge Technologies Stock Down 1.7 %

Shares of SEDG opened at $11.72 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $64.04. The stock has a market capitalization of $691.98 million, a price-to-earnings ratio of -0.38 and a beta of 1.63. The stock has a fifty day moving average of $15.43 and a 200-day moving average of $14.97.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Fifth Third Bancorp increased its stake in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 790 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $27,000. Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd lifted its position in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,770 shares in the last quarter. Finally, R Squared Ltd acquired a new position in SolarEdge Technologies during the 4th quarter valued at about $61,000. 95.10% of the stock is owned by institutional investors and hedge funds.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.